Famed Pastor Just Picked Up Five Years For His Role In Coin.Mx

This article talked about a famed Pastor that just picked up jail terms…..

The potential for Bitcoin to be used in malicious transactions (money laundering, buying drugs and weapons, that sort of thing) has long been at the forefront of discussions surrounding regulation and adoption. It’s the argument most often put forward for government intervention and – since the downfall of Silk Road and the life imprisonment of Ross Ulbricht – it’s likely to remain so.

Lets look at the famed Pastor story…..

In reality, of course, it’s not Bitcoin that’s the issue. The seedier side of pretty much any industry will always be set up to try and scam and steal and, just because Bitcoin can be used to facilitate these sorts of transactions doesn’t mean it can be blamed for these transactions taking place.

The latest situation to exemplify this connection is the Coin.mx case.Between 2013 and 2015, Coin.mx was a popular exchange type entity that offered Bitcoin debit card purchase services. For the many legitimate individuals that used the service, this was a quick and easy way to bridge the transaction barrier. For the rest, however, it was a quick and easy way to launder money by disguising money laundered as debit card transactions.

And it turned out that the exchange’s leadership knew about this going on all along.In June, Anthony Murgio, who ran the exchange between 2013 and 2015, picked up a 66-month prison sentence for his role.

Here is the Famed Pastor Involvement…

Now, another individual has been sentenced and this time it’s Non-denominational Christian Pastor Trevón Gross, founder of Hope Cathedral in New Jersey. He picked up a five-year sentence and a $12,000 fine for his role in the laundering scheme, reportedly by allowing the just mentioned Murgio and another individual, Yuri Lebedev, access to his church’s credit union.

It’s unlikely that this is the last of the incarcerations associated with the downfall of this exchange. We’ll keep an eye on things as they mature.

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